Spotted this in the news this morning. Might be wise to be aware of when we express our own various opinions. Mind you, this is the sort of thing that only such a useless organisation as ASIC could police. There is ABSOLUTELY NO CHANCE of them ever doing their job properly.
“The “finfluencer” situation is well explained in this Aussie Firebug farewell blogpost, but essentially it comes down to ASIC threatening to throw the book at bloggers who discuss financial products without having first secured an ASIC financial services licence, which can cost as much as $15,000 a year, including insurance.
Meanwhile, the really big scam in the Australian market remains the unfair structuring of capital raisings — and ASIC doesn’t appear to be doing anything to curb practices in this area.”
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